Required Questions: Answer questions 1, 2, 3, and 4 (the required questions are attached by photo labeled required)

Use the Ferrara Company transactions (attached by photo) to complete the blank working papers (also attached by photo).

--The blank working papers are to be completed EXACTLY like the pictures show by using the transactions from the Ferrara Company (complete all pages from the workbook, including the general ledger accounts, accounts receivable subsidary ledger accounts, accounts paybable subsidary ledger accounts, sales journal, purchases journal, cash receipts journal, cash disbursements journal, general journal, trial balance, etc.

PART II (continued) Required (use your P7-1AMB working papers) 1.open the following general ledger accounts: Cash; Accounts Receivable, Inventory 1, balance $50,000); Office Supplies; Store Supplies; Office Equipment; Accounts Payable; Long-Term Notes Payable; W Ferrara, Capital (Mar. 1, balance S50,000); Sales; Sales Discounts; of Goods Sold; and Sales Salaries Expense. N. Open the following accounts receivable subsidiary ledger accounts: A. Cider, Newman, and D. George. Open the following accounts payable subsidiary ledger accounts: Elaine Company, Jerry Corp., Susan Supply, and PTK Company. 2. Enter these transactions in a sales journal like Exhibit 7.5, a purchases journal like Exhibit 7.9, a cash receipts journal like Exhibit 7.7, a cash disbursements journal like Exhibit 7.11, or a general journal...number each journal as page #2. Note: post to the subsidiary ledgers immediately. 3. Post to the general ledger at the end of the month. 4. Prepare a trial balance and schedules of accounts receivable and accounts payable